Did you know prescription drugs are not covered under traditional Medicare (Part A & Part B)? That’s right, in order to receive prescription drug coverage, you must take out a Part D or Prescription Drug Plan. These plans are administered through Medicare approved insurance plan providers. All plans cover certain common prescriptions but benefits vary by plan so it is important to know all your options before making a selection. In order to access Medicare Part D plans in Peoria, AZ, you must have Medicare Part A, Medicare Part B, or Medicare Advantage plan which includes prescription drug coverage.
Most licensed insurance agents will recommend that you start with a plan comparison and make sure it provides enough protection now and in the future. A standard level of coverage exists, but different plans offer various benefits. It’s important to weigh cost-sharing and coverage combinations for enrollment. Remember, not all healthcare plans are created equal. Even if you have private insurance through an employer or union, you should compare the coverage side by side with Medicare to see what benefits you more.
Understanding Part A, B, and D
On their own, Medicare Part A and B do not cover prescription drugs. This is why Medicare requires that you enroll in a Medicare Part D plan in addition to your Part A and Part B enrollment. The only exception to this is if you take out a Part C plan which is Medicare Advantage. Medicare Advantage plans are Medicare approved private healthcare plans that provide all the same coverage as traditional Medicare, with some including the added benefit of a prescription drug plan and some additional benefits.
Unfortunately, Medicare and all healthcare plans for that matter are complicated. That is why you need a trusted licensed insurance agent by your side to help you navigate the complexities and help you make the best decision for you and your family. If you need help figuring out what Medicare plan is right for you, talk to Ideal Insurance Agency in Surprise and Glendale, AZ today!
